CVB Financial Corp. (NASDAQ:CVBF) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of CVB Financial Corp. (NASDAQ:CVBF) by 0.5% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,649,779 shares of the financial services provider’s stock after selling 8,885 shares during the period. Bank of New York Mellon Corp’s holdings in CVB Financial were worth $28,442,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CVBF. Vanguard Group Inc. raised its position in CVB Financial by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 15,701,547 shares of the financial services provider’s stock valued at $317,014,000 after acquiring an additional 176,694 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of CVB Financial by 16.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,290,055 shares of the financial services provider’s stock worth $86,619,000 after purchasing an additional 594,901 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of CVB Financial by 104.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,897,667 shares of the financial services provider’s stock worth $78,694,000 after purchasing an additional 1,994,369 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of CVB Financial by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,784,666 shares of the financial services provider’s stock valued at $76,412,000 after purchasing an additional 190,343 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of CVB Financial by 5.0% in the 1st quarter. Principal Financial Group Inc. now owns 3,059,293 shares of the financial services provider’s stock valued at $54,578,000 after purchasing an additional 144,587 shares during the period. Institutional investors and hedge funds own 74.18% of the company’s stock.

Insider Buying and Selling at CVB Financial

In other CVB Financial news, Director George A. Borba, Jr. bought 4,610 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was acquired at an average price of $16.00 per share, with a total value of $73,760.00. Following the completion of the acquisition, the director now directly owns 665,121 shares of the company’s stock, valued at $10,641,936. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Kimberly H. Sheehy sold 2,961 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $17.14, for a total transaction of $50,751.54. Following the completion of the sale, the director now directly owns 13,156 shares in the company, valued at $225,493.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director George A. Borba, Jr. bought 4,610 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was purchased at an average price of $16.00 per share, for a total transaction of $73,760.00. Following the completion of the acquisition, the director now directly owns 665,121 shares in the company, valued at $10,641,936. The disclosure for this purchase can be found here. 6.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wedbush raised their price target on shares of CVB Financial from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Stephens raised their target price on CVB Financial from $19.00 to $21.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Janney Montgomery Scott cut CVB Financial from a “buy” rating to a “neutral” rating in a report on Wednesday, May 22nd. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $20.00 price objective (up from $19.00) on shares of CVB Financial in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $20.00.

CVB Financial Stock Down 2.7 %

Shares of NASDAQ CVBF opened at $17.92 on Wednesday. CVB Financial Corp. has a 52-week low of $14.62 and a 52-week high of $21.77. The company’s 50-day simple moving average is $17.83 and its 200-day simple moving average is $17.18. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 11.79 and a beta of 0.47.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.02. CVB Financial had a return on equity of 10.41% and a net margin of 29.58%. The company had revenue of $125.27 million for the quarter, compared to analysts’ expectations of $126.86 million. During the same period in the previous year, the firm posted $0.40 EPS. CVB Financial’s revenue was down 5.2% compared to the same quarter last year. Equities research analysts anticipate that CVB Financial Corp. will post 1.4 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend was Thursday, July 11th. CVB Financial’s dividend payout ratio is currently 52.63%.

About CVB Financial

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank, a state-chartered bank that provides banking and financial services to small to mid-sized businesses and individuals. It offers checking, savings, money market, and time certificates of deposit products for business and personal accounts; and serves as a federal tax depository for business customers.